VeraScore: Unveils credit monitoring model focused on equality
- VeraScore, an innovative AI platform for measuring consumers’ financial health
- Introducing a SaaS-based model that will allow lenders to more accurately and fairly extend credit
- This will enable them to increase their pool of borrowers while lowering the risk of extending new loans
- According to the Federal Reserve Bank of New York, there is currently more than $16 trillion in consumer credit outstanding
- The patent-pending platform is fundamentally different to the legacy credit rating model
- The new SaaS platform will create a more equitable lending framework for under-served communities
